Yamana Gold Inc. announced preliminary operational results for the third quarter and for the first nine months of 2017. Production from the Company’s six producing mines increased by 5% compared to the second quarter of 2017. The Company also produced 1.43 million ounces of silver, representing an increase of 8% compared to the second quarter of 2017, and 37.1 million pounds of copper, representing an increase of 27% compared to the second quarter of 2017. Production for the third quarter and first nine months of 2017 is ahead of guidance and budget.
With an expected strong fourth quarter, and in light of an expected stronger second half to first half of the year, the Company is evaluating whether or not to increase guidance relating to production for gold, silver and copper.
|Gualcamayo Mine (San Juan province)||Three Months Ending Sept. 30th||Nine Months Ending Sept. 30th
|Gold Production (Ounces)||34,000||43,000||109,000||119,000|
Cerro Moro: The project remains on schedule and budget as construction advanced toward mechanical completion by the end of 2017 and start-up of production in early 2018.
Agua Rica: The project continues to be assessed following the initial studies relating to a smaller scale underground sub-level caving operation that contemplates a fully standalone operation. A feasibility study relating to the sub-level scenario will follow for completion by either just the Company or, potentially, in conjunction with one or more partners. The Company has retained two financial advisers to advise on strategic alternatives that consider both the underground and open pit development options, with the goal of finding the right third party or partner to advance the project towards development.
|Precious metals: New perspectives for Argentina
Since the beginning of the year gold, as well as silver, have recovered the price lost during the second half of 2016. Although the ounce of gold is far from the record values of just few years ago, with figures close to US $ 1,800, it is important to note that the sustained price above US $ 1,250 per ounce gives a good vision for the future.
The investment sector also shows a better outlook on gold as a source of investment. With few exceptions, the most powerful economies of the planet possess a large part of their reserves in the yellow metal. And the trend for the situation is to continue: both China and Russia keep on adding gold to their reserves.
Argentina has some of the most important gold and silver orebodies worldwide. The progress shown in construction stage projects like Cerro Moro, also as in the huge Pascua-Lama and less developed properties like those situated in the Macizo del Deseado formation of Santa Cruz province, speaks of the confidence placed by investors in Argentina as an investment destination, due to its geological potential as well as clear rules of the game.
You will be able to access more information about the new trends in gold and silver, as well as the developments in the Argentine mining horizon, with your participation in the “International Seminar Argentina Argentina y Plata 2017”, organized by PANORAMA MINERO Magazine, and to be held on 5 and 6 December 2017 in Buenos Aires. For more information, please visit http://argentinaoroyplata.com.ar/